RegulationCorporate GovernanceHealth company blames Sarbox for delisting

Health company blames Sarbox for delisting

Biopharmaceutical company says compliance to much of a burden

Sarbanes-Oxley
corporate governance rules have been blamed by
Vernalis, the speciality
biopharmaceutical company, as the reason for its decision to delisted from the
Nasdaq market.

The company, is also listed on the LSE, a listing it said would protect
investors.

Vernalis is set to file its application to delist from the tech-heavy index
by the end of next week and the delisting will come into effect ten days later.

It has decided to delist despite a ‘buy’ signal from broker Goldman Sachs.

Further reading:

Sarbox compliance seen as positive

Global audit fees rocket 345% over five years

US audit quality body defends Sarbox

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